In the latest Financial Development Report issued by the World Economic Forum (WEF), measuring the factors enabling the development of financial systems in 62 worldwide economies, the top 3 spots are held by countries hosting major financial centres, with Hong Kong remaining first.
The world’s top leading financial centre of Hong Kong was followed by the US and the UK.
It should be noted that Hong Kong first rose to the top of the WEF index in 2011, becoming the first Asian financial centre to achieve this rank. So, in 2012, the jurisdictions of Hong Kong not only maintains its position, but also manages to increase its relative score, thereby creating a wider gap between it and the United States.
Hong Kong’s increase in relative score can be attributed to higher scores in both banking and financial services, and financial markets, respectively, due mostly to an increase in the size and efficiency of the banking sector, and strong equity and bond markets.
Hong Kong’s Financial Secretary John Tsang said the government welcomed the WEF’s recognition of Hong Kong’s leading position amonginternational financial centres. He said: “Hong Kong is highly competitive vis-à-vis most other financial systems in the world, especially in terms of contract enforcement, taxes and the infrastructure of the business environment, as well as the efficiency of banking financial services,” he said. “Our strengths in IPO activity, equity market development and commercial access are also well recognized by the WEF.”
No comments:
Post a Comment